by the Alabama State Legislature

“ The corporation shall be a nonprofit corporation and no part of its net earnings remaining after payment of its expenses shall inure to the benefit of any individual, firm or corporation, except that in the event a board shall determine that sufficient provision has been made for the full payment of the expenses, bonds and other obligations of the corporation, then any net earnings of the corporation thereafter accruing shall be paid to Washington county. ”

“ The legislature may, by general or local laws, fix, alter, and regulate the costs and charges of court and the fees, commissions, percentages, allowances, and salary, including the method or basis of his compensation, to be charged or received by the judge of probate of Franklin county, and may place the judge of probate on a salary and provide that the fees, commissions, percentages, and allowances collected by the judge of probate shall be paid into the county treasury from which his salary shall be paid. ”

“ A majority of the trustees shall constitute a quorum for the transaction of business by the board, and decisions shall be made on the basis of a majority of the quorum then present and voting, with each trustee to have a single vote. No vacancy in the membership of the board or the voluntary disqualification or abstention of any trustee shall impair the right of a quorum to exercise all of the powers and duties of the board. The governor shall be the chairman and presiding officer of the board. The director of finance shall be vice chairman, and the state treasurer shall serve as secretary. ”

“ No foreign corporation shall do business in this state without having at least one known place of business and an authorized agent or agents therein, and without filing with the secretary of state a certified copy of its articles of incorporation or association. Any foreign corporation, whether or not such corporation has qualified to do business in this state by filing with the secretary of state a certified copy of its articles of incorporation or association, may be sued only in those counties where such suit would be allowed if the said foreign corporation were a domestic corporation. ”

“ Appointed trustees shall be entitled to such compensation for their services as may from time to time be provided by law duly enacted by the legislature, but the power to provide compensation of appointed trustees shall be discretionary with the legislature and nothing in this amendment shall be construed to confer upon such trustees an absolute right to any compensation for their services. ”

“ Directors shall be eligible for re-election to succeed themselves in office. If at the expiration of any term of office of any director, a successor thereto shall not have been elected, then the director whose term of office shall have expired shall continue to hold office until a successor shall be so elected. No director shall be an officer or member of the governing body of Washington county. ”

“ The trust capital shall be held in perpetual trust and shall not be appropriated by the legislature or expended or disbursed for any purpose other than to acquire eligible investments in accordance with the provisions of this amendment. All eligible investments acquired, in whole or in part, with moneys constituting part of the trust capital shall to the extent of such moneys constitute part of the trust capital, but any trust income derived therefrom shall be paid directly into the general fund as it is received by the board, subject to appropriation and withdrawal by the legislature. ”

“ To own, acquire, maintain and control easements, rights of way, streets, approaches, roads, interests in land, including the fee simple title to real property, riparian rights, and mooring rights necessary, useful or convenient in gaining access, entry or approach to waterways, rivers, canals and streams, whether or not navigable and whether or not such easements, rights-of-way, streets, approaches, roads, interests in land, riparian rights and mooring rights lead to property owned or controlled by the corporation. ”

“ The board shall have full power and authority to invest the trust capital in any eligible investments producing trust income in accordance with such schedule as the board shall, in the exercise of its sole and uncontrolled judgment, determine to be in the best interests of the state, and in determining such schedule the board may emphasize future benefits in preference to near-term needs. ”

“ Washington county or any municipality within the county, is authorized, but not required, to lease, sell, donate or otherwise convey to the corporation, real or personal property, including park properties, without the necessity of authorization by election of the qualified voters of said county, the municipality, and the governing body of said county or any municipality within the county, and is hereby authorized to enter into any agreements which such corporation may deem necessary in order to effectuate such lease, sale, donation, or transfer. ”

“ No trustee shall vote on or participate in the discussion or consideration of any matter coming before the board in which such trustee, personally or through family connections or business associations, has any direct or indirect pecuniary interest, including, but without limitation thereto, decisions of the board concerning the investment of moneys constituting part of the trust fund in any deposit or obligation of any bank or corporation in which such trustee may have such an interest. ”

“ To the extent that any income or profit derived from such certificates of deposits or other investments is referable to any period after the transfer thereof into the trust fund, such income or profit shall not constitute trust capital nor trust income but shall remain in the general fund subject to appropriation by the legislature. ”

“ Washington county may become indebted and may issue bonds for the construction or improvement of public roads and bridges in said county in an amount not to exceed the debt limits prescribed for counties by this Constitution. To pay said indebtedness and interest thereon, Washington county may impose and collect an annual road paving fee on all motor vehicle licenses issued in the county. The indebtedness, the bonds and the fee authorized hereby shall be in addition to those authorized by the Constitution of Alabama prior to the adoption of this amendment. ”

“ Corporate securities, provided, however, that no more than a maximum of 25 percent of the trust capital may be invested in such securities by the Board at any time and provided further that no more than a maximum of one percent of the 25 percent may be invested in any one corporation. The legislature may provide authorization to the Board to invest up to a maximum of 40 percent in corporate securities by a three-fifths vote of the membership of both the house of representatives and the senate. ”

“ Any refunding bonds may be sold by the corporation at public or private sale at such price or prices as may be determined by its board to be most advantageous, or may be exchanged for the bonds or other obligations to be refunded. ”

“ The legislature shall provide for the collection and distribution of assessments or charges authorized hereunder and to provide penalties for failure to make such collection and distribution of assessments. The legislature shall provide for the designation of a nonprofit association or organization organized for the promotion and betterment of poultry and poultry products in Alabama to administer and carry out such promotional program which shall include conducting elections or referendum among producers, owners or growers of poultry. ”

“ No lien or charge against any assets of the trust fund for any purpose whatsoever shall be created by or result from any law enacted by the legislature or any action taken by the board or any other department, agency or instrumentality of the state. ”